Insider Buying: Polestar Automotive Holding UK (NASDAQ:PSNY) Director Buys 6,000 Shares

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Director Winfried Vahland bought 6,000 shares of the stock in a transaction on Monday, June 29th. The shares were acquired at an average cost of $16.95 per share, for a total transaction of $101,700.00. Following the acquisition, the director directly owned 37,979 shares in the company, valued at approximately $643,744.05. This trade represents a 18.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Winfried Vahland also recently made the following trade(s):

• On Monday, June 1st, Winfried Vahland purchased 6,700 shares of Polestar Automotive Holding UK stock. The stock was bought at an average cost of $19.72 per share, with a total value of $132,124.00.

Polestar Automotive Holding UK Price Performance

Shares of Polestar Automotive Holding UK stock traded up $1.55 during trading hours on Wednesday, reaching $20.33. The company had a trading volume of 138,861 shares, compared to its average volume of 181,576. The firm has a market cap of $1.90 billion, a PE ratio of -1.04 and a beta of 1.29. Polestar Automotive Holding UK PLC has a one year low of $11.75 and a one year high of $42.60. The business has a fifty day simple moving average of $20.04 and a 200 day simple moving average of $57.44.

Hedge Funds Weigh In On Polestar Automotive Holding UK

A number of institutional investors have recently added to or reduced their stakes in the business. Rathbones Group PLC increased its stake in Polestar Automotive Holding UK by 79.1% in the 3rd quarter. Rathbones Group PLC now owns 45,285 shares of the company’s stock worth $43,000 after acquiring an additional 20,000 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Polestar Automotive Holding UK by 28,277.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,554 shares of the company’s stock valued at $47,000 after acquiring an additional 2,545 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Polestar Automotive Holding UK by 45.0% in the second quarter. Russell Investments Group Ltd. now owns 47,970 shares of the company’s stock worth $51,000 after purchasing an additional 14,877 shares during the last quarter. Focus Partners Wealth purchased a new stake in Polestar Automotive Holding UK in the first quarter valued at approximately $62,000. Finally, Captrust Financial Advisors raised its stake in Polestar Automotive Holding UK by 43.2% in the second quarter. Captrust Financial Advisors now owns 58,700 shares of the company’s stock valued at $63,000 after purchasing an additional 17,700 shares in the last quarter. 1.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PSNY. Weiss Ratings raised Polestar Automotive Holding UK from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 14th. Wall Street Zen raised shares of Polestar Automotive Holding UK from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Polestar Automotive Holding UK presently has a consensus rating of “Sell”.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC (NASDAQ: PSNY) is an electric performance car company specializing in the design, development and manufacture of premium electric vehicles. Established as an offshoot of Volvo Car Group’s high-performance Polestar division, the company focuses on delivering a blend of Scandinavian design, advanced electric powertrains and cutting-edge connectivity features.

The roots of Polestar date back to 1996 when it operated as Volvo’s in-house tuning and motorsport arm.